Oracle Banking Digital Experience Release Notes Banking Digital... · Oracle Banking Digital Experience Release Notes 4 1 THEME OF THE RELEASE Overview Digital disruption, which began

Oracle Banking Digital

Experience Release Notes

Release 19.1.0.0.0

Part No. F18558-01

May 2019

Oracle Banking Digital Experience Release Notes

May 2019

Oracle Financial Services Software Limited

Oracle Park

Off Western Express Highway

Goregaon (East)

Mumbai, Maharashtra 400 063

India

Worldwide Inquiries:

Phone: +91 22 6718 3000

Fax:+91 22 6718 3001 www.oracle.com/financialservices/

Copyright © 2019, Oracle and/or its affiliates. All rights reserved.

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

U.S. GOVERNMENT END USERS: Oracle programs, including any operating system, integrated software, any programs installed on the hardware, and/or documentation, delivered to U.S. Government end users are “commercial computer software” pursuant to the applicable Federal Acquisition Regulation and agency-specific supplemental regulations. As such, use, duplication, disclosure, modification, and adaptation of the programs, including any operating system, integrated software, any programs installed on the hardware, and/or documentation, shall be subject to license terms and license restrictions applicable to the programs. No other rights are granted to the U.S. Government.

This software or hardware is developed for general use in a variety of information management applications. It is not developed or intended for use in any inherently dangerous applications, including applications that may create a risk of personal injury. If you use this software or hardware in dangerous applications, then you shall be responsible to take all appropriate failsafe, backup, redundancy, and other measures to ensure its safe use. Oracle Corporation and its affiliates disclaim any liability for any damages caused by use of this software or hardware in dangerous applications.

This software and related documentation are provided under a license agreement containing restrictions on use and disclosure and are protected by intellectual property laws. Except as expressly permitted in your license agreement or allowed by law, you may not use, copy, reproduce, translate, broadcast, modify, license, transmit, distribute, exhibit, perform, publish or display any part, in any form, or by any means. Reverse engineering, disassembly, or decompilation of this software, unless required by law for interoperability, is prohibited.

The information contained herein is subject to change without notice and is not warranted to be error-free. If you find any errors, please report them to us in writing.

This software or hardware and documentation may provide access to or information on content, products and services from third parties. Oracle Corporation and its affiliates are not responsible for and expressly disclaim all warranties of any kind with respect to third-party content, products, and services. Oracle Corporation and its affiliates will not be responsible for any loss, costs, or damages incurred due to your access to or use of third-party content, products, or services.

http://www.oracle.com/financialservices/

TABLE OF CONTENTS

1 Theme of the release ......................................................................................................................... 4

Overview .............................................................................................................................................. 4

2 Highlights ............................................................................................................................................. 5

2.1 Enriched Corporate Capabilities .......................................................................................... 5

2.2 New Retail Functions ............................................................................................................. 6

2.3 Framework and Tooling ......................................................................................................... 7

2.4 Regulatory ............................................................................................................................... 8

3 Enriched Corporate Capabilities ...................................................................................................... 9

3.1 Supply Chain Finance (SCF) ................................................................................................ 9

3.2 Virtual Account Management Enhancements .................................................................. 11

3.3 Trade Finance – Process Enablement .............................................................................. 12

4 New retail functions ......................................................................................................................... 13

4.1 UPI Payment Enhancements ............................................................................................. 13

4.2 Dashboard and Theme Personalization ........................................................................... 14

4.3 Payee Modification ............................................................................................................... 14

5 Framework and Tooling .................................................................................................................. 15

5.1 Access Management for new modules ............................................................................. 15

5.2 UX Extensibility Toolkit ........................................................................................................ 17

6 Regulatory ......................................................................................................................................... 18

6.1 SWIFT 2018 Changes for Payments ................................................................................ 18

6.2 SWIFT 2018 Changes for Trade Finance......................................................................... 18

7 Qualifications .................................................................................................................................... 19

8 Browser Support ............................................................................................................................... 20

9 Known Issues and Limitations........................................................................................................ 21

Oracle Banking Digital Experience Release Notes 4

1 THEME OF THE RELEASE

Overview

Digital disruption, which began re-modelling retail banking years ago, has finally come to corporate

banking as well. Corporate banks are in need to undertake front-to-back digital transformations.

A digitized banking relationship increases customer touch points, cross-sell opportunities and provides a

bank with a better understanding of client transaction behaviors. Digitization also improves the customer

experience by enabling flexibility and fast response times.

The theme of OBDX 19.1 release was to deepen corporate banking, enrich the retail banking capabilities,

develop new framework and tooling capabilities and also comply to regulatory Swift changes in Payments

and Trade Finance Domain.


2 HIGHLIGHTS

This section describes in brief, the enhancements made in OBDX in the 19.1 release.

2.1 ENRICHED CORPORATE CAPABILITIES Corporates need better control and visibility over their cash flows and liquidity positions. Moreover,

corporate customers of today are looking to access banking services when and where they are needed

across multiple devices

OBDX has deepened corporate banking services in this release with introduction of new module ‘Supply

Chain Finance’, making few Trade Finance transactions process enabled and enabling new capabilities in

Virtual Account Management (VAM).


2.2 NEW RETAIL FUNCTIONS Personalized Digital Experiences creates opportunity for the banks to generate renewed excitement and

increased customer engagement.

OBDX has introduced new features of dashboard and theme personalization that lets users to customize

their dashboard making it easier to navigate and making his/her visits more efficient.

Additionally, new features have been introduced in payments wherein the user can request for funds

through UPI, split funds, track pending requests and also modify payee details.


2.3 FRAMEWORK AND TOOLING Developers need tools to create easy and accessible experiences for their users

OBDX has introduced new toolkit for UX Extensibility enabling developers to create new User Interface

components of type ‘Widgets’, ‘Inquiry Pages’ and ‘Transaction Pages’.

As part of this release, Access Management capability has been introduced for following set of additional

modules:

Virtual Account Management (VAM) - Access can be controlled on a set of resources i.e. VAM Enabled

Real Accounts, Virtual Accounts and Remitter List for a corporate party as well as at a user level.

Liquidity Management (LM) – Access can be controlled on LM Enabled Real Accounts for a corporate

party as well as at a user level.


2.4 REGULATORY Financial institutions that use SWIFT, the global banking messaging platform, had to comply with a set of

new standards released in 2018.

As part of this Release, there have been enhancements made to payments and trade finance modules to

comply with Swift 2018 standards.

Wealth Management Services


3 ENRICHED CORPORATE CAPABILITIES

The following enhancements have been made to Corporate Banking in the 19.1 Release:

3.1 SUPPLY CHAIN FINANCE (SCF) Supply Chain Finance facilitates the corporates to avail short-term credit that optimizes working capital for both the buyer and the seller at a lower cost, thereby improving business efficiency. Through SCF, suppliers sell or liquidate their invoices or receivables to banks that enables them to make liquid money available to proceed with the future orders. Similarly, Buyers avail finance for their payables from banks so that their obligations are timely met at a minimized cost. As part of this release, SCF module has been introduced in OBDX thereby enabling corporates to carry the following functions:

Program Management

Invoice Management

Counterparty Onboarding and Linkage to Programs

Details of the features in Supply Chain Finance Module are as follows-

o Overview - Supply Chain Finance dashboard provides holistic information to the corporate user about its Supply Chain Finance business. It provides a view of its business in terms of receivables or payables maturing from its invoices and also provide position of programs in local currency.

Below widgets are available in SCF Overview:

Overdue Invoices – Position of Payables or Receivables

Top Programs – Top Performing Programs

Quick Links – Quick links to transactions for quick access.

Invoice Timeline – View of overdue invoices and invoices maturing in future.


o On-board Counterparty – Allows corporate users to onboard their counterparties into the Supply Chain System so that they can be linked in the program.

Program Management – A program is a linkage between an anchor corporate who creates a

program and its counter parties who are the on-boarded counterparties.

When an anchor corporate is buyer, then its counterparties are supplier and vice versa. In Program Management below are the available transactions-

Create Program – An Anchor Corporate creates a program to link its counterparties.

Edit Program – An Anchor Corporate can edit the created program.

View Program – A Corporate can view all its programs where the corporate is an anchor or a counterparty.

o Invoice Management – Invoice Management enables the corporate user to create single or multiple invoices online. Below are the available transactions in Invoice Management

Create Invoice – A supplier corporate can create an invoice on its buyer.

Accept/Reject Invoice – The buyer corporate needs to accept or reject the invoice. It is mandatory for an invoice to be accepted for finance request.

View Invoices – A Corporate can view all its invoices in terms of receivables or payables.

o View Associated Party – Corporate can view all its associated parties here i.e. all its onboarded

parties and its Anchor in a single view.


3.2 VIRTUAL ACCOUNT MANAGEMENT ENHANCEMENTS

1. Virtual Multi Currency Account (VMCA)

Virtual Multi Currency Account (VMCA) is a group of VAM enabled real accounts bundled under a Virtual Multi-Currency Account Number. In a scenario where bank offers only single currency real accounts, VMCA helps in achieving support for multi-currency transactions in a virtual account structure.

As part of this Release, new feature of VMCA has been enabled in OBDX thereby enabling corporate user to create a VMCA by grouping VAM enabled single currency real accounts. Maximum one account of each currency can be selected. One of the currencies can be identified as the default currency of the VMCA.

Once a VMCA is formed, it can be linked to a Virtual Accounts Structure.

Virtual accounts in the structure can handle multiple currency transactions since each of VMCA consists of real accounts. As part of payment transaction, corresponding real account in a given currency is debited.

2. Bulk File Upload

A corporate can normally have hundreds of virtual accounts. Creating these many virtual accounts or their structure using screens could be cumbersome.

As part of this Release, feature of bulk file upload have been provided in OBDX for the following VAM transactions

1. Creation of Virtual Accounts (both with account real account linkage as well as without real account linkage)

2. Creation of Virtual Account Structure 3. Addition of Remitter IDs to Remitter List


3. Access Management in VAM

Access to various VAM functionalities are driven by user’s access to different resources i.e. Real accounts, Virtual accounts & Remitter lists.

As part of this Release, Access Management feature has been enabled in OBDX for VAM module wherein access can be granted to user on Real Accounts, Virtual Accounts and Remitter List. Therefore, the information user sees in VAM dashboard widgets is governed by the access he has to

different resources.

3.3 TRADE FINANCE – PROCESS ENABLEMENT As part of this Release, some existing transactions from the Trade Finance module of OBDX have been

integrated with the trade finance mid office system. This feature enhances the experience of business

users with mid office involvement wherein the application information can be enriched from the bank side

and also provide help in case of any exceptions and approvals required.

Once trade finance applications are sent to mid office for processing, corporate user will wish to track the

status of the application.

An application tracker has been developed which enables the corporate user to track the current status of

the trade finance applications sent to mid-office for processing.

The submitted applications by the corporate user can be seen in the Submitted tab of Application Tracker.

User can view details of the submitted applications.

The user can resume a partially filled application from the Draft tab of Application Tracker. Once the

application is accepted, the LC or BG number generated for the application can be viewed.

Additionally there are search parameters available i.e. application number or beneficiary name to search

applications submitted by user. Similarly draft applications can be searched using draft name.


4 NEW RETAIL FUNCTIONS

The following features have been added in this release to further enhance the retail banking capabilities

of OBDX:

4.1 UPI PAYMENT ENHANCEMENTS Enhancements have been made to the existing UPI Payments functionality so as to enable retail users to

perform the following UPI transactions and inquiries through the mobile banking applications:

1. UPI Request Money

In addition to transferring funds from their VPAs to other VPAs and domestic accounts, retail users can

now initiate collect money requests i.e. perform transactions requesting money that is due to them via

UPI.

A request can be made towards a registered VPA payee or even by entering a new VPA i.e. one that is

not registered as a payee of the user.

The user is required to specify information such as the VPA towards which the collect request is to be

initiated, the amount to be requested, the date on which the request is to expire, remarks and the user’s

VPA in which the funds are to be transferred once the receiver of the request approves the request.

2. UPI Split Bill

Users can now initiate split bill transactions via UPI. The user can select multiple VPA payees or even

specify VPAs that are not registered as payees that are to contribute to the bill being split. Once the

contributors are selected, the user can specify the bill amount and the system will split the amount equally

among the selected contributors. Information such as VPA to be credited, expiry date etc need to be

provided.

3. UPI Pending Requests

Once a collect request has been made it will appear under Pending Requests until the request is

processed to completion or until it expires. Users can view requests initiated by others pending towards

their VPAs and can take action on these requests by either approving or rejecting the request. Users can

also view those requests and split bills that have been initiated by them that are pending with the

recipients of the requests. The status of each contribution will be displayed against the contributor name

in the case of split bills. A split bill transaction record will appear under pending request until each

contributor has taken action on the individual request or until the split bill expires. The option to search for

requests based on the user’s VPA is also provided.

4. UPI Transaction History

All UPI transactions including UPI transfers, requests and split bills, that have been processed or that

have expired will be visible on the UPI Transaction History page. The status of each transaction will be

visible along with other information including the amount, VPAs involved, etc.

Users can search for transactions based on VPA, transaction type, date range of transaction initiation and status.


4.2 DASHBOARD AND THEME PERSONALIZATION OBDX Dashboards are designed to enable users to access and analyze the key information with respect

to their bank accounts so that they can make smarter, data-driven decisions.

However, the need of information that is shown on the dashboard can be different for different users and

dashboard personalization enables the end user to re-configure and customize the dashboard depending

upon the most frequently used tasks and information they access on the dashboard.

As part of this Release, dashboard personalization feature has been introduced in OBDX for Retail Users.

In addition to dashboard personalization, a new feature of theme personalization has been introduced for

Retail Users that enables them to choose a theme from the list of pre-defined themes.

Using theme personalization, users can change the default theme offered by the bank; the look and feel

of the application will change as per the new theme applied.

The pre requisite for applying a new theme is that the bank user should have created new themes using

existing Brand management feature.

4.3 PAYEE MODIFICATION In addition to editing the payee photo and in the case of retail users editing payee limits, users can now

edit other information of the payee such as the account number, account name, payee nickname etc.

The fields that are editable will depend on the type of payee i.e. internal, domestic, international, draft or

peer to peer payee. Certain fields such as the payee name, account type (i.e. transfer type such as

internal, domestic, and international in the case of account payees), draft type (domestic draft or

international draft) in the case of demand draft payees and payment network in the case of domestic and

international payees will not be editable.


5 FRAMEWORK AND TOOLING

The following features have been added in this release as part of Framework and Tooling capabilities.

5.1 ACCESS MANAGEMENT FOR NEW MODULES Access Management framework provides capability to define access on accounts as well as other

resources across different modules for a corporate as well on a specific user of a corporate.

As part of this Release, following enhancements have been made to the Access Management Framework

capabilities:

Additional Account Types have been introduced in Party and User Account Access thereby allowing the

administrator to configure access control on the respective resources and also new maintenance has

been developed to provide access on resources other than accounts.

VAM Enabled Real Accounts: A new tab has been introduced in party account access and user account

access maintenance wherein the administrator can define access to VAM Enabled Real Accounts for a

corporate party as well as at a user level. Access provided to accounts under this tab will be referred only

for specific VAM transactions.

Virtual Accounts: A new tab has been introduced in party account access and user account access

maintenance wherein the administrator can define access to Virtual Accounts for a corporate party as well

as at a user level. Access provided to accounts under this tab will be referred only for specific VAM

transactions.


Liquidity Management Enabled Real Accounts: A new tab has been introduced in party account

access and user account access maintenance wherein the administrator can define access to LM

Enabled Real Accounts for a corporate party as well as at a user level.

Party Resource Access and User Resource Access: New maintenance screens have been developed

wherein administrator can select the module for which access maintenance needs to be done.

For Virtual Account Management (VAM) module, administrator can provide access to the Resource

‘Remitter List’ along with the transactions under each Remitter List to the corporate party as well as at a

user level.


5.2 UX EXTENSIBILITY TOOLKIT As part of this Release, new toolkit for UX Extensibility has been introduced that enables users of

developer persona to develop user interfaces for OBDX application. Creating new UI pages are quick and

easy with an extended library of pre-defined page templates and field components.

Key features of the tool are:

Pre-Built layout templates for selection like single column, double column etc.

Development of different UI components for various screen types like Transaction pages (along with review and confirm screens), widgets and stand-alone inquiry pages

Binding with REST API services using Open API Specifications (Swagger)

Ready to use form components library

CSS Editor to customize the UI


6 REGULATORY

As part of this release, the payments and trade finance module transactions have been enhanced to

comply with SWIFT 2018 changes:

6.1 SWIFT 2018 CHANGES FOR PAYMENTS As part of this Release, following maintenance and transaction screens from payments module have

been enhanced to incorporate the changes published as part of Standards Release 2018 (SR - SWIFT

2018).

Payee Maintenance

New fields have been introduced to capture payee’s address details in International Payee maintenance

screen.

Transfer Money

Option to capture the following information as part of cross border payment Initiation (with Payee and

Adhoc Payment)

o Intermediary Bank details

o Payment Details

Cross border transfer transaction confirmation screen have been enhanced to show Unique End-to-

End Transaction Reference (UETR). UETRs allow the banks and the customers to easily trace their

payments and check the real-time status.

6.2 SWIFT 2018 CHANGES FOR TRADE FINANCE As part of this Release, following transactions from Trade Finance module have been enhanced to

incorporate the changes published as part of Standards Release 2018 guidelines.

Letter of Credit Initiation

Letter of Credit Amendment

Bank Guarantee Initiation

Bank Guarantee Amendment

With enhancements, some new fields have been introduced and some existing fields have been made

available for modification.


7 QUALIFICATIONS

Sr. No. Oracle Banking Digital Experience Modules

Host Integration* Version

1 Oracle Banking Digital Experience Originations

Oracle FLEXCUBE Universal Banking 14.2.0.0.0 and 14.3.0.0.0

2 Oracle Banking Digital Experience Retail Servicing

Oracle FLEXCUBE Core Banking Oracle FLEXCUBE Universal Banking Oracle Banking Payments

11.7.0.0.0 14.2.0.0.0 and 14.3.0.0.0 14.2.0.0.0 and 14.3.0.0.0

3 Oracle Banking Digital Experience Corporate Servicing

Oracle FLEXCUBE Core Banking Oracle FLEXCUBE Universal Banking Oracle Banking Payments Oracle Banking Virtual Account Management Oracle Banking Liquidity Management Oracle Banking Credit Facility Process Management System (OBCFPM) Oracle FLEXCUBE Enterprise Limits and Collateral Management (ELCM) Oracle Banking Corporate Lending Process Management (OBCLPM) Oracle Banking Corporate Lending (OBCL) Oracle Banking Supply Chain Finance (OBSCF)

11.7.0.0.0 14.2.0.0.0 and 14.3.0.0.0 14.2.0.0.0 and 14.3.0.0.0 14.3.0.0.0 14.3.0.0.0 14.1.0.1.0 and 14.3.0.0.0 14.2.0.0.0 and 14.3.0.0.0 14.1.0.1.0 and 14.3.0.0.0 14.2.0.0.0 and 14.3.0.0.0 14.3.0.0.0

4 Oracle Banking Digital Experience Retail Peer to Peer Payment

Oracle FLEXCUBE Core Banking

11.7.0.0.0

5 Oracle Banking Digital Experience Merchant Payments

Oracle FLEXCUBE Core Banking Oracle FLEXCUBE Universal Banking

11.7.0.0.0 14.2.0.0.0 and 14.3.0.0.0

6 Oracle Banking Digital Experience Customer Financial Insights

Oracle FLEXCUBE Core Banking Oracle FLEXCUBE Universal Banking

11.7.0.0.0 14.2.0.0.0 and 14.3.0.0.0

7 Oracle Banking Digital Experience Corporate Trade Finance

Oracle FLEXCUBE Universal Banking Oracle Banking Trade Finance Process Management

14.2.0.0.0 and 14.3.0.0.0 14.3.0.0.0

* Refer 'Transaction Host Integration Matrix' section available in module specific user manuals to know transaction level integration

details.


8 BROWSER SUPPORT

This chapter lists the qualification of Oracle Banking Digital Experience 19.1.0.0.0 release with various

browsers:

Chrome Firefox Microsoft Browser Safari

Android Supported * Not Supported N/A N/A

iOS Not Supported Not Supported N/A Supported

Mac OS X Supported Supported N/A Supported

Windows Supported Supported Supported Not Supported

* Support on the Android operating system is limited to Chrome for Android.

For complete Browser support policy, please refer :

http://www.oracle.com/technetwork/indexes/products/browser-policy-2859268.html


9 KNOWN ISSUES AND LIMITATIONS

This chapter covers the known anomalies and limitations in of Oracle Banking Digital Experience Release

19.1.0.0.0

9.1 Oracle Banking Digital Experience Known Issues

1. Trade Finance Transactions are not supported on Mobile Devices

2. Request Cheque Book transaction is not supported with FCUBS version 14.3.0.0.0

3. Cash Positions Overall widget considers child account contributions too instead of only considering

Own Balance of a virtual account

9.2 Oracle Banking Digital Experience Limitations

1. Credit Facility Originations solution offered by OBDX mandatorily needs Oracle Banking Credit

Facility Process Management System (OBCFPM) in the backend for integration. 2. Corporate Lending Originations solution offered by OBDX mandatorily needs Oracle Banking

Corporate Lending Process Management (OBCLPM) in the backend for integration. 3. Virtual Account Management solution offered by OBDX mandatorily needs Oracle Banking Virtual

Account Management System (OBVAM) in the backend for integration.

4. Liquidity Management solution offered by OBDX mandatorily needs Oracle Banking Liquidity

Management System (OBLM) in the backend for integration.

5. Supply Chain Finance solution offered by OBDX mandatorily needs Oracle Banking Supply Chain

Finance System (OBSCF) in the backend for integration.

6. Application Tracker for Corporate Trade Finance Management solution offered by OBDX mandatorily

needs Oracle Banking Corporate Trade Finance Process Management (OBTFPM) in the backend for

integration.

7. Virtual Account Management, Liquidity Management Credit Facility Management, Corporate Lending

Management, Supply Chain Finance and Trade Finance modules are currently not supported on

mobile and tablet devices.

Documents

Oracle Banking Digital Experience Release Notes Banking Digital... · Oracle Banking Digital Experience Release Notes 4 1 THEME OF THE RELEASE Overview Digital disruption, which began